Commonwealth Bank of Australia – Digital Transformation Strategies
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Commonwealth Bank of Australia (CBA) has been focusing on using artificial intelligence, mobile technologies, online & mobile payments, and big data to digitally transform its operations. The annual ICT spending of CBA was estimated at $1.6 billion for 2022. A major share of this spending is earmarked for acquiring software, ICT services and hardware from vendors. CBA is a leading provider of banking and financial services in Australia. Its key business units include retail banking; business and private banking; institutional banking and markets; international financial services; New Zealand (comprises the funds management and banking businesses in New Zealand); international financial services, and wealth management.
The CBA Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, accelerators, incubators, & other innovation programs, technology partnerships, technology introductions, investments, acquisitions, and ICT spending among others.
Digital Transformation Strategies
As part of its strategy to offer sophisticated customer-facing technologies, CBA updated its CommBank app in 2019 with smart features such as budgeting tools, reminders for upcoming credit card payments, monthly spend tracker etc. The app version, known as CommBank app 4.0, was built using disruptive technologies such as data analytics, machine learning, and behavioral analytics to offer personalized services to customers and help them save more money.
To gain more insights on digital transformation strategies and initiatives of CBA, download a free report sample.
CBA Technology Theme Focus
CBA is utilizing a number of emerging technologies including AI and machine learning, big data, blockchain, cloud, online & mobile payments among others to operational efficiency, improve product offerings and enhance customer experience.
CBA Technology Focus
To know about other technology themes under focus for the company, download a free report sample
CBA Technology Initiatives
CBA has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, technology investments, and acquisitions over the last few years. For instance, in 2019, CBA partnered with Apple to offer the Apple Pay mobile payments service to its customers. The partnership allows customers to make contactless payments through the Apple Pay mobile app. The partnership is line with CBA’s strategy to offer convenient and simple digital banking solutions to its customers.
For more insights on other technology initiatives of CBA, download a free report sample
CBA ICT Spend by Function
- Data center
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
CBA ICT Spend by Function, 2022
For more insights on ICT spending by function, download a free report sample
CBA ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
CBA ICT Spend by Channel, 2022
For more insights on ICT spending by channel, download a free report sample
CBA External ICT Spend by Segment
- Software (including Cloud SaaS and PaaS)
- ICT services
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
CBA External ICT Spend by Segment, 2022
For more insights on external ICT spending by segment, download a free report sample
CBA Digital Transformation Strategies Overview
Total ICT Spending 2022 | $1.6 billion |
ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service desk |
ICT Spend by Channel | Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators |
External ICT Spend by Segment | Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others |
Technology Theme Focus | AI, ML, big data, blockchain, mobile technologies, online & mobile payments |
This report provides:
- Insight into CBA’s technology activities.
- Insights of its accelerators, incubators, and other innovation programs.
- Overview of technology initiatives covering partnerships, technology introductions, acquisitions and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into CBA’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of CBA in 2022?
The annual ICT spending of CBA was estimated at $1.6 billion in 2022.
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What are the key ICT spending categories by function for CBA?
The key ICT spending categories by function for CBA are communications, data center, network, applications, end-user computing, ICT service desk, and management.
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What are the key ICT spending categories by channel for CBA?
The key ICT spending categories by channel for CBA are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
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What are the key external ICT spending categories by segment for CBA?
The key external ICT spending categories by segment for CBA are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), ICT services, network and communications, consulting, and others.
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What are the key technology themes in focus for CBA?
The key technological theme in focus for CBA are AI, ML, big data, blockchain, mobile technologies, online & mobile payments.
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